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5 Medicare Hacks: 2023 Medicare Benefits You Should Know About

medicare hacks for 2023

Posted on December 16, 2022 by Larry Johnson

Many Medicare Advantage plans can carry some of the best benefits you’ll find. Call our licensed agents today at (800) 950-0608 to learn more about benefits and plans that may be available in your area.

It’s Easier Today Than Ever to Make Medicare Work For You

Let’s face it: a lot of things about Medicare can be incredibly confusing. From qualifying for healthy benefits and comparing plans to enrollment and Medicare coverage, learning about benefits that are available to you can feel like an uphill battle. That complexity – and the frustration that comes with it – often keeps seniors from choosing Medicare as a health insurance option.

Explanations of benefits and plans can read like stereo instructions sometimes. At MedicareInsurance.com, we want you to know about the great healthcare treatments and services that may be available for most Medicare beneficiaries. We also want you to be able to read up on them in an easy-to-digest way; after all, that’s a big part of our mission!

For that reason, we’ve compiled a list of some of the best Medicare hacks you should know about for 2023. In fact, we’ve developed a list of the 5 best benefits out there in particular! So, how can you use these 5 hacks to make Medicare work for you? Read on to learn more.

1: Take Advantage of Extra Financial Help

It’s not always easy for seniors living on fixed incomes to pay for prescription medications. For this reason, Medicare developed their Extra Help program to help reduce the cost of Medicare Part D plans and prescription co-pays. While costs for Medicare premiums and prescription plans have decreased, they can still be quite steep for seniors on a budget. This is one of the best benefits for handling part of that cost.

It is estimated that the Medicare Extra Help plan provides around $5,100 per year in Medicare relief. However, this benefit isn’t available to everyone. Unlike most 2023 Medicare benefits, there’s an income restriction. In order to qualify* for Extra Help, you must be a resident of the United States receiving Medicare benefits, and you must be able to qualify as “low income”.

Qualifying as “low income” means that you meet the following criteria:

  • Single individuals must make less than $19,320 per year. Married couples must make less than $26,130.
  • Single individuals must own less than $14,790 between checking and savings accounts, stocks, and bonds. Married couples must own less than $29,520.

If you meet the criteria for Extra Help, it’s a great benefit to have. 

*If you’re currently enrolled in both Medicare and Medicaid, currently receive Supplemental Security Income (SSI), and qualify for a Medicare Savings Program, you’ll automatically be enrolled in the Medicare Extra Help program.

2: Select Medicare Plans Can Help You Save on Food Costs with the Medicare Grocery Benefit

The grocery benefit is one of the best “open secrets” to discover in a Medicare plan. That’s right, certain Medicare plans offer healthy benefits that can help you receive up to $900 for healthy foods and meals at the grocery store.

Qualified Medicare beneficiaries enrolled in plans that offer this benefit can often receive a Medicare food card loaded with an allowance. The Medicare food card allowance can then be used to purchase healthy foods from participating retailers, which may even include your local grocery store. Some of these providers even allow online orders and grocery delivery.

In order to qualify, you’ll need to enroll in a plan that offers the grocery benefit. Some plans may also require you to have been diagnosed with a chronic health condition in order to qualify for the Medicare food card.

Do you qualify for the grocery benefit? If so, are you currently taking advantage of it? If the answer is “no”, then you’re missing out on one of the best benefits that a plan can provide.

medicare benefits for 2023

3: Fixed Insulin Copays Will Make It Easier for You to Get the Medication that You Need

Many seniors suffering from diabetes require insulin injections to regulate their blood sugar. If you’re in this group, you know that insulin can be incredibly costly. The recently-passed Inflation Reduction Act aims to help seniors who are enrolled in a Medicare Part D plan who need insulin better manage the cost.

Starting January 1, 2023, one of the best new benefits begins. Language in the Inflation Reduction Act has capped the copay of insulin at $35 per month for Medicare beneficiaries enrolled in a Part D Medicare drug plan. As a result, one of the hardest-to-afford medications for seniors on fixed incomes becomes slightly more affordable.

4: Special Needs Plans Help You Receive More Specialized Care

Many seniors need more coverage than most Original Medicare or Medicare Advantage plans can provide. For this reason, private insurance companies offer three different types of Medicare Special Needs Plans:

  • Institutional Special Needs Plans (I-SNPs) for seniors living in institutional or long term care facilities.
  • Dual Eligible Special Needs Plans (D-SNPs) for seniors who are eligible for both Medicare and Medicaid.
  • Chronic Condition Special Needs Plans (C-SNPs) for seniors living with chronic health conditions.

If you qualify for a Medicare Special Needs Plan, it can be a very powerful resource. Special Needs Plans not only offer the same benefits as Original Medicare and Medicare Advantage plans, they also offer benefits designed to fit your healthcare needs. For instance, I-SNPs cover costs for services you use while institutionalized while also being able to provide provisions for extra comfort or special accommodations.

medicare benefits you should know about for 2023

5: SilverSneakers is Medicare’s Answer to Expensive Fitness Apps

Last, but certainly not least, one of the great perks you may be missing out on is a free resource known as SilverSneakers. This Medicare-sponsored fitness app offers tailored workouts, tips for healthy eating, and access to online and in-person fitness classes across the United States.

If your Medicare plan offers SilverSneakers as a benefit, you’ll also have access to reduced memberships at participating fitness centers and all of the equipment that they provide. Remember, like any Medicare benefit, SilverSneakers is only available through participating plans. Participating plans may be limited to specific areas.

Don’t Miss Out on Exciting New 2023 Medicare Benefits

As you can see, Medicare Advantage plans offer a wide array of healthy benefits that can help you save money, have better access to care, and lead healthier lives. Believe it or not, it’s easier now than it has ever been to find a Medicare Advantage plan that offers the benefits listed above, plus others.

Would you like to learn more about plans in your area that may offer these benefits? Give our licensed agents a call today at (800) 950-0608. They’ll be happy to help you compare options in your area to find a Medicare plan with excellent benefits that works for you.

About the Author

Larry Johnson

Larry is a content writer with several years of experience in creating informative content for a variety of industries on topics that matter. He is a 2009 graduate of the University of North Carolina School of the Arts.

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